Economy

• Saturday, March 26th 2011 - 10:41 UTC

  Uruguay admits concern over inflation raises benchmark interest to 7.5%

  

  Uruguay's central bank this week surprised local economists and raised its benchmark interest rate 100 base points, one percentage point to 7.5%, in an attempt to help combat accelerating inflation which is beyond the government's target range.

• Saturday, March 26th 2011 - 10:38 UTC

  Billionaire Buffet advice: avoid long term fixed-income investment in US dollars

  

  Billionaire Warren Buffet who urged United States in 2009 to guard against inflation, said investors should avoid long-term fixed-income bets in US dollars because the currency’s purchasing power will decline.

• Saturday, March 26th 2011 - 10:36 UTC

  Second Fed governor in a week against extending US stimulative policies

  

  The Federal Reserve has less need to support an improving US economy beyond the 600 billion dollars Treasury purchase plan already in place, and any changes to the central bank’s stimulative policies should be considered some time after the program ends, said Charles Evans, , president of the Fed’s regional bank in Chicago.

• Saturday, March 26th 2011 - 08:57 UTC

  Brazil expected to raise benchmark interest rate as inflation “worsens”

  

  Brazilian Central bank President Alexandre Tombini admitted inflation forecasts may “worsen”. Consumer prices in the 12 months through mid-March rose 6.13%, the biggest jump in more than two years.

• Saturday, March 26th 2011 - 08:53 UTC

  WTO rules US is illegally taxing imported Brazilian frozen orange juice

  

  The World Trade Organization ruled Friday that the United States is illegally taxing about 2 billion US dollars a year of imported Brazilian frozen orange juice.

• Saturday, March 26th 2011 - 08:06 UTC

  Chile further opens its market to US beef and beef products

  

  United States Agriculture Secretary Tom Vilsack and US Trade Representative Ron Kirk announced this week that US producers are now eligible to ship a larger array of US beef and beef products to Chile.

• Saturday, March 26th 2011 - 08:03 UTC

  Canada export development agency helps boost trade with Latin America by 40%

  

  Canada’s Export Development agency, (EDC) announced a 40% increase in its Latin American business volumes in 2010, reaching a record 10 billion Canadian dollars.

• Saturday, March 26th 2011 - 07:24 UTC

  US economy expands 3.1% in fourth quarter and totals 2.9% in 2010

  

  The United States economy grew more quickly than previously estimated in the fourth quarter as businesses maintained fairly solid spending and restocked shelves to meet rising demand, while corporate profits increased 3.3%, a government report showed.

• Friday, March 25th 2011 - 01:14 UTC

  Brazilian government wants to sack CEO of the country’s largest corporation

  

  Brazilian government is facing a political backlash over its apparent efforts to force out the head of mining giant Vale, the world’s largest iron ore miner. Opposition leaders on Thursday demanded Finance Minister Guido Mantega explain reports he asked a shareholder of Vale to help seek a replacement for CEO Roger Agnelli.

• Friday, March 25th 2011 - 01:06 UTC

  IMF mission travels to Argentina in April to help design a new national CPI

  

  The International Monetary Fund said Thursday it will send a team to Argentina again next month to continue work on revamping the government's discredited inflation measure, and will provide specific recommendations.